Aust stocks open flat

Local market begins little changed as Wall St slips on shutdown reality.

The Australian stock market opened flat after falls on Wall Street as the reality of the United States government shutdown depressed markets along with fears of a American debt default.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index gained 0.11% to 5,221.1 points, while the broader All Ordinaries index added inched 0.07% higher to 5,218.8 points.

In economic news on Thursday, the Australian Industry Group/Commonwealth Bank Australian Performance of Services Index (PSI) for month just ended showed a marked improvement in the sector.

No major equities news is expected.

In Australia, the market on Wednesday firmed as investors expect the partial US government shutdown to be resolved soon.

The benchmark S&P/ASX200 index gained 8.8 points, or 0.17%, to 5,215.6 points.

The broader All Ordinaries index added 8.6 points, or 0.17%, to 5,214.9 points.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles